Average personal loan debt: $8,018. Personal loans are unsecured debt governed by the original loan agreement and state law. If in collections, FDCPA applies. Many collection agencies lack original documentation.
Common Asta Funding Violations
Purchasing and collecting severely aged debts
Failing to disclose debt buyer status
Adding unauthorized post-charge-off interest
Personal Loan Debt Dispute Strategies
1
Demand debt validation under FDCPA
2
Check statute of limitations in your state
3
Verify the amount is correct
4
Negotiate settlement if valid
5
Dispute credit reporting errors under FCRA
Tips Against Asta Funding
Asta buys very old debts — SOL defense is your strongest tool
Never acknowledge the debt verbally or in writing
If contacted about debt older than 7 years, it shouldn't be on your credit report